A GlobalData survey reveals brokers are the top influencers in SME cyber insurance purchases. CFC launches Cyber Threat Review tool to bridge the cyber protection gap for SMEs. 26.7% of UK SMEs bought cyber insurance based on broker advice, emphasizing the importance of clear communication and trust in intermediaries.

The new tool by CFC provides tailored insights on cyber risks in commercial terms to improve SME understanding and confidence in cyber insurance. GlobalData’s survey shows 40.4% of SMEs believe they won’t be targeted by cyberattacks, highlighting the need for better education and risk assessment tools.

Brokers play a crucial role in closing the SME cyber protection gap by offering business-specific cyber risk assessments. CFC’s tool enhances broker effectiveness and supports sustainable growth in the under-penetrated cyber insurance market. Technology-enabled advisory capabilities help SMEs better grasp cyber risks and make informed purchasing decisions.

Read more at Yahoo Finance: Brokers key to closing the SME cyber protection gap